Metairie Towers $8.85 Million Insurance Settlement

Several insurance companies, property managers, and related parties have agreed to pay $8,850,000 to settle a class action lawsuit involving the Metairie Towers Condominium Association. The lawsuit claims these parties mismanaged insurance proceeds following Hurricane Ida and a subsequent water intrusion event in September 2021, causing financial harm to condominium owners.

This is the second settlement in this case. A previous settlement involved Scottsdale Insurance Co., Evanston Insurance Co., and Interstate Fire & Casualty Co.

Who Is Eligible to File a Claim?

You may be eligible to receive a cash payment if you:

  • Owned a unit at Metairie Towers continuously from August 29, 2021, through April 21, 2023,
    or
  • Acquired a unit after August 29, 2021, and still owned it as of April 21, 2023

The property is located at 401 Metairie Road, Metairie, Louisiana.

How Much Can Class Members Receive?

The amount each claimant receives will depend on:

  • The number and type of units claimed
  • The total number of valid claims
  • Deductions for legal fees, service awards, and administrative costs

Units are assigned share values as follows:

  • One-bedroom units: 0.42905 shares
  • Two-bedroom units: 0.52968 shares

Payouts will be calculated using this formula:

  1. Multiply the number of one-bedroom units by 0.42905
  2. Multiply the number of two-bedroom units by 0.52968
  3. Add the two results to determine the total shares
  4. Divide the net settlement fund by the total shares to get the value per share
  5. Multiply that share value by the number of shares per unit

The final payment per unit will depend on the total number of claims and the unit mix.

How to File a Claim

There is no online claim form. Class members must:

  1. Download and print the PDF claim form, or
  2. Call class counsel to request a copy

The form must be signed and notarized before being mailed or emailed to the settlement administrator.

Mailing address:
Metairie Towers Settlement Administrator
P.O. Box 3637
Baton Rouge, LA 70821

Email: info@MetairieTowersSettlement.com